2 Adani Group Stocks To Be Dropped From MSCI Global Standard Index

Two Adani Group stocks will take an exit from MSCI Global Standard Index while the weightage of food delivery app Zomato will go, MSCI announced on Thursday as part of its quarterly comprehensive index review. The adjustments will take place on May 31, 2023, according to The Economic Times report.

Shares of Adani Transmission witnessed 4.44% decline and currently trading at Rs 876.55 apiece on NSE while shares of Adani Total Gas declined 5.00% in trade on Friday and presently trading at Rs 812.30 apiece on NSE.

The exit of Adani Transmission and Adani Total Gas from the MSCI Global Standard Index is expected to trigger outflows of $201 million in the case of Adani Transmission and $186 million in the case of Adani Total Gas, according to a Nuvama Alternative & Quantitative Research, added The Economic Times report.

Meanwhile, 18 million shares each of both Adani Group stocks will be offloaded, the report said further. The stocks carry weights of 0.34 and 0.31 respectively, according to the report.